Mortgage fintech looks to blockchain for home loans

Mortgage fintech looks to blockchain for home loans

The CEO and founder of an online mortgage platform has revealed that the fintech is looking into how it can utilise blockchain to make the home loan contract process more efficient.

Speaking at the Informa Credit Law Conference, Mandeep Sodhi, the CEO of HashChing, revealed that the platform was looking into the distributed ledger technology for mortgages.

When asked by The Adviser what HashChing was using blockchain for, Mr Sodhi said: “We have been exploring blockchain in the home loan contract, smart contract space and securitisation as well.

“It’s more in the future roadmap but mostly around how quickly can we exchange a contract – through smart contracts. But also, if you decide to come on with a loan product at a later stage (of course we’ll distribute it through brokers only), but then how quickly can you settle that loan as well and securitisation? That’s where blockchain plays a really important role, if you need a securitised done quickly.”